Answer:
The correct answer is not listed in the options. However, the answer is $23,500. The explanation is given below.
Explanation:
It is important to understand the three levels of possible deductions as dividends are collected from US corporations.
- General rule: DRD is equal to 70% of dividend received
- If the company receiving the dividend owns more than 20% but less than 80% of the company paying the dividend, the DRD amounts to 80% of the dividend received.
- If the company receiving the dividend owns more than 80% of the company paying the dividend, the DRD equates to 100% of the dividend.
From our scenario, Wayne corporation holds the following percent holdings.
Robin Corporation = 40%
Bat Corporation = 90%
==> Using the Third Rule, Bat Corporation owns more than 80% which is 100%, therefore, we have:
$20,000 × 100% = $20,000
==> By using the second rule,
deductible amount = $5,000 × 80% = $4,000
==> By applying the general rule to Robin Corporation, we have
$5,000 × 70% = $3,500
Therefore, the total dividend deductible amount is $20,000 + $3,500 = $23,500
Answer:
The answer is "Option a"
Explanation:
In the given question only "option a" is correct, which can be described as follows:
- He is the owner and managing director of an organization and recently he introduced media attention initiatives to encourage a specific app controlled by federal law.
- Its law is rather ambiguous. He reviewed the relevant law before starting the initiative and met with his counsel in an attempt to comply with the rule. Even so, this state attorney general's office also filed a suit against him after misleading publicity.
- He provides the best defense, which acted in good faith with proper research and in line with an unspecified rule.
Answer:
Bigbucks Brokerage
The whole amount of $2,400 must be included in the taxpayer's income.
Explanation:
The Bicycle Commuting Reimbursement in 2020, given under a Bicycle Commuter Tax Benefit program, is taxable as income to the employee. According to the provisions of the Tax Cut and Jobs Act, the restriction placed on the Bicycle Commuter Tax Benefit will expire in 2026. The bicycle commuting reimbursement is a benefit that can only be offered by employers and is regarded as a taxable benefit to the affected employee.
Require the issuer to set aside assets to pay bonds at maturity.
Bonds that require the issuer to set aside a pool of assets used only to repay the bonds at maturity.
<h3>What is Sinking Fund Bond ?</h3>
A sinking fund is maintained by companies for bond issues, and is money set aside or saved to pay off a debt or bond.
- Bonds issued with sinking funds are lower risk since they are backed by the collateral in the fund, and therefore carry lower yields.
- example may be a company issuing $1 million of bonds that are to mature in 10 years. Given this, it creates a sinking fund and deposits $100,000 yearly to make sure that the bonds are all bought back by their maturity date
Learn more about Sinking Fund Bond here:
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The answer is revenue stream.
